Address
2532 Joan Avenue, Panama City, FL
Price
$ 2,500,000
Property Attributes
- MLS#785853
- TypeSingle Family
- Listing Status Active
- CountyBay
- CityPanama City
- Area03 - Bay County - Beach
- NeighborhoodLagoon Heights
- Zip32408
- Style
- Year Built2022
- Price$ 2,500,000
- Bedrooms0
- Full Bathrooms0
- Half Bathrooms0
- Sqr Footage9000
- Lot Size1 Acres
Data Source:
Central Panhandle Association of REALTORS® (CPAR)
Property Description
FUTURE-PROOF PCB ASSET: 9,000 SF 2022-BUILD WITH 10-STORY VERTICAL POTENTIAL Seize a premier 0.998-acre commercial footprint on Joan Avenue, positioned directly in a high-growth corridor evidenced by a neighboring property trading for $15.4M last year. Built in 2022 to rigorous 140 MPH wind standards, this high-spec complex features 100 feet of prime street frontage and a deep 435-foot lot. The property carries a rare 100-foot height allowance, offering massive potential for future vertical expansion. MAXIMIZED RENTAL POTENTIAL: TURNKEY 6-UNIT INVESTMENT CONFIGURATION This 60' x 150' engineered steel facility is a ''plug-and-play'' multi-tenant opportunity designed to maximize your ROI. The current layout is optimized for high-demand flex use, with the first section serving as 2 premium executive offices, lobby, a conference room and public bathroom. While the building already features five sections ready for separation, a small investment of approximately $10,000-$12,000 allows for the addition of two walls and four bathrooms to complete the full 6-unit complex. With two bathrooms already existing and plumbing stubs in place for the remaining four, this property offers a low-cost path to a high-yield, multi-stream rental asset. INDUSTRIAL UTILITY: 53-FOOT TRAILER ACCESS AND 6-GANG POWER Loading is seamless via six 12 x 12 grade-level roll-up doors. Property footprint is designed to accommodate a 53-foot trailer. The 9,000 SF shell maintains an efficient ratio of 8% office to 92% warehouse space, with interior clear heights ranging from 13'7'' to 16'11''. The facility is equipped with a 6-gang electrical meter bank and 600 Amp single-phase power, providing dedicated service points for each of the six potential rental units. The front office has 200 amp service. UNINCORPORATED BAY COUNTY LOCATION: LOWER TAXES AND FEWER RESTRICTIONS Located in Unincorporated Bay County rather than city limits, this property offers a strategic financial advantage with lower property tax rates, set at 5.4362 mills for 2026. Owners benefit from fewer municipal restrictions regarding signage or ''Gateway Overlay'' facade requirements. Standard county setbacks apply here, offering significantly more buildable flexibility than properties bordering strict city-residential zones. STRATEGIC PRICING: ENGINEERED FOR SAFETY AND PROFIT At a listing price of $2.5M, this asset is positioned at approximately $277 per SF, strategically aligned with the early 2026 PCB flex-industrial average of $290-$310 per SF. The property is located in Flood Zone AE with a community-determined base flood elevation (BFE) of 11.0'. Highlighting its superior engineering, the finished flood elevation is set at 12.75', providing 1 foot 9 inches of clearance above the required BFE for enhanced safety and insurance advantages. Buyer to verify height allowance, ISR, and FAR for future development. Current tenant occupies 1500 sq ft and on a month to month lease.
| Elementary School | Middle School | High School |
|---|---|---|
| Breakfast Point Elementary School | Breakfast Point Middle School | Arnold High School |
| Price History | |
|---|---|
| 2/26/2026 | Listed $2,500,000 |
General Features
| Township | 4 S |
|---|---|
| Property Subtype | Industrial |
| County | Bay |
| Property Type | CommercialSale |
| HOA | false |
| Subdivision Name | Lagoon Heights |
| Special Listing Conditions | ListedAsIs |
| Status | Active |
| Directions | From Hwy 98 going over the Hathaway Bridge heading west, take a left at 2nd fork to Front Beach Rd. Drive Less than 1/2 mile & take left on Joan. Drive less than half a mile and 2532 Joan Avenue is on the left-hand side. Coming from 98 heading East, take the fork at right to Front Bch rd. Drive Less than 1/2 mile, take left on Joan. Drive less than 1/2 mile 2532 Joan Avenue on left. |
| High School | Arnold |
| City | Panama City |
| Zoning Description | County |
| MLS Area | 03 - Bay County - Beach |
| Lot Size Units | Acres |
| Lot Size Square Feet | 43560 |
| Elementary School | Breakfast Point |
| Middle/Junior High School | Breakfast Point |
| MLS Area Minor | 0319 - Beach - East |
| Standard Status | Active |
| Property Sub Type Additional | Industrial |
| Business Name | A+ Air Conditioning |
| Possible Use | Industrial |
| Occupancy Type | Occupied |
| Year Built | 2022 |
| Construction Materials | SteelFrame,VinylSiding |
| Stories Count | 1 |
| Levels | One |
| Tax Lot | 8 & 20 |
| Roof | Metal |
Interior Features
| Flooring | Concrete |
|---|---|
| Total Stories | 1 |
Exterior Features
| Lot Size Area | 1 |
|---|---|
| Lot Size Acres | 1 |
| Building Area Total | 9000 |
| Waterfront Y/N | false |
| Exterior Amenities | RainGutters |
Amenities
- Foreclosure
- Views
- Short Sale
- New Construction
- Adult 55+
- Lease To Own
- No HOA Fees
- Furnished
- Primary On Main
- Air Conditioning
- Seller Finance
- Green
- Fixer Upper
- Horse
- Golf
- Fireplace
- Deck
- Garage
- Basement
- Pool
Property vs Single Family Average in 32408
Price
Year Built
Emerald Coast Association of REALTORS®, Inc. All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers
Listing data provided by: Central Panhandle Association of Realtors (CPAR)
Information deemed reliable but not guaranteed. The information is provided exclusively for consumers personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing.
All information deemed reliable but not guaranteed. All properties are subject to prior sale, change or withdrawal. Neither listing broker(s) or information provider(s) shall be responsible for any typographical errors, misinformation, misprints and shall be held totally harmless. Listing(s) information is provided for consumer's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties consumers may be interested in purchasing. The data relating
